ConocoPhillips (NYSE:COP) Price Target Cut to $95.00 by Analysts at Scotiabank

ConocoPhillips (NYSE:COP) had its price objective cut by equities researchers at Scotiabank from $115.00 to $95.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the energy producer’s stock. Scotiabank’s price target indicates a potential upside of 10.01% from the stock’s current price.

Other research analysts also recently issued reports about the company. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Morgan Stanley decreased their price target on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.79.

ConocoPhillips Trading Up 3.7 %

ConocoPhillips stock opened at $86.36 on Friday. The stock has a 50-day moving average price of $96.51 and a 200 day moving average price of $102.04. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $135.18. The stock has a market cap of $109.17 billion, a PE ratio of 11.09, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Institutional Trading of ConocoPhillips

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after buying an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD lifted its position in ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Invesco Ltd. lifted its position in ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after acquiring an additional 4,211,939 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in ConocoPhillips by 401.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after acquiring an additional 3,541,504 shares during the period. Finally, Geode Capital Management LLC grew its position in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.